The Michigan-based cereal giant reported a fourth quarter loss of $84m – compared with a profit of $417m a year earlier – due to the looming Brexit and a ‘softness’ in its key US snacks and morning foods categories.
Credit Suisse has removed Kellogg from its US Focus List after downgrading the food stock to Neutral over concerns that growth at the Kellogg Company isn’t keeping up with peer
The US breakfast cereal category can be bolstered by unlocking neglected brands and pushing deeper into the natural segment, the head of cereals at General Mills says.
Food giant Nestlé is investing around €38m in a new cereals factory in Turkey on the back of increasing demand for the breakfast category in Turkish households.